our company paid rent Rs. 16,000.00 P.M for Guest House purpose which started from Sep,2018. As per calculation see that (Sep,18 to Mar,18) Total Rent Payable Rs, 96,000.00 , (Threshold TDS Limit 1.80 Lakh U/s 94 I ) so can we deucted TDS against this. because we rent paid only 06 Months not 1 Year for this F.Y .........
4 Replies
Rakesh Bandal
(Self Employed and Agriculture)
(1349 Points)
Replied 22 December 2018
No need to deduct TDS for current transaction
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 22 December 2018
No need. Bcoz, threshold limit not exceeds.
Shreenivas S.Dotihal
(Chartered Accountant)
(36 Points)
Replied 22 December 2018
For the Financial year 2018-19 no need to deduct tax but for subsequent year need to deduct tds, because threshold limit for exemption is crossed 1.20 lakhs
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